International gold price and domestic gold price conversion formula
Gold price is an important indicator in the global economy. It not only reflects the market's demand and supply of gold, but also is affected by monetary policy and geopolitics.In international trade and investment, it is important to understand the conversion relationship between international gold prices and domestic gold prices.This article will be discussed around this theme.
What is international gold price?
International gold price refers to the gold price that is denominated in the US dollar globally.Under normal circumstances, London Bullion Market is regarded as one of the world's largest and most representative gold trading markets.Here, multiple setting operations are performed every day to determine the spot price of spot gold in London that day.
What is domestic gold price?
Domestic gold prices refer to the gold price of RMB pricing announced by various exchanges or banks in China or banks in China.At present, it has its own spot exchanges in Shanghai, Shenzhen and other places, and the central bank will regularly issue RMB valuation in the afternoon quotation.
How to convert international and domestic Gold Price?
The key to the Gold Price between the two is the exchange rate and unit conversion.First of all, you need to find the current exchange rate and convert the US dollar into RMB. Secondly, you need to consider whether the representation of the Gold Price under the two different units is the same (such as Troy Once and Gram). If different, you need to convert it according to the corresponding proportion.
What are the factors that affect GOLD Price?
1. Geopolical risk: Geopolical tensions may cause investors to avoid risk to buy;
2. US dollar exchange rate: Since GOLD PRICE is worth the US dollar, it usually leads to rising prices when the US dollar is strong;
4. Inflation expectations: high inflation expectations may push high physical commodity demand;
5. Change of interest rates: Rising interest rates may increase the cost of holding interest -free assets such as valuable commodities and reduce demand.
Conclusion:
All in all, in today's complex and changeable economic environment, it is essential to understand and master Gold Price in time and accurately in different markets.Only by studying in -depth research factors and using the corresponding tools to better seize the opportunities and avoid risks.
